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SEATTLE - Weyerhaeuser Company (NYSE:WY) announced Monday the appointment of Richard "Rick" Beckwitt to its board of directors, effective immediately. The timber and forest products company, currently valued at approximately $16 billion, has seen its shares trading near the 52-week low of $22.13.
Beckwitt brings over 30 years of experience in the homebuilding and real estate industries. He most recently served as co-chief executive officer and co-president at Lennar Corporation until his retirement in September 2023, where he had worked since 2006 in various executive leadership roles. According to InvestingPro data, this appointment comes as Weyerhaeuser management has been aggressively buying back shares, one of several key insights available to subscribers.
"Rick brings more than 30 years of experience in the homebuilding and real estate industries, including leading two of the largest homebuilding companies in the United States," said Rick R. Holley, chairman of Weyerhaeuser's board of directors, in a press release statement.
Prior to his tenure at Lennar, Beckwitt served as president and director of D.R. Horton, where he oversaw significant growth and multiple acquisitions. His earlier career included roles as owner and principal at EVP Capital, L.P., a venture capital and real estate advisory company, and in corporate finance and mergers and acquisitions with Lehman Brothers.
Beckwitt holds a bachelor of arts degree in psychology from Claremont McKenna College. He currently serves as a director of Eagle Materials, Inc., and Ferguson Enterprises, Inc.
Weyerhaeuser, founded in 1900, is one of the world's largest private owners of timberlands with approximately 10.4 million acres in the U.S. and additional managed timberlands in Canada. The company reported $7.1 billion in net sales in 2024 and employs approximately 9,400 people.
In other recent news, Weyerhaeuser Company reported its Q3 2025 earnings, surpassing expectations with an earnings per share (EPS) of $0.06, compared to the forecasted -$0.05. Despite the better-than-expected earnings, the company's stock experienced a decline following the announcement, influenced by broader market trends and operational challenges. In a separate development, RBC Capital lowered its price target for Weyerhaeuser to $30.00 from $31.00, while maintaining an Outperform rating. The firm cited ongoing pressure in the wood products markets due to soft demand conditions as a reason for the adjustment. These recent developments highlight the challenges and mixed signals facing Weyerhaeuser in the current economic landscape.
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